Essel Propack received repayment towards an inter-corporate deposits (ICD) of around Rs 96 crore. Ashok Goel, CMD of Essel Propack, spoke to CNBC-TV18 on the development.

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“Essel Propack had only one entry, which was going on for more than 10 years. That was the principal amount of Rs 96 crore and only that was the single entry and we have received the entire Rs 96 crore. There may be a case when the interest for last year might still be due that we have to deal with and we will figure out how to deal with it,” Goel said on Friday.

“There is no ICD that Essel Propack has given to anybody else other than this Rs 96 crore single entry,” he added.

“We have reduced the net debt by Rs 100 crore already and maybe little bit more in normal course we would have reduced but let us take Rs 550 crore as a net debt as on March 31,” said Goel.

First Published:Apr 12, 2019 12:10 PM IST